TAX REFORM ANALYSIS: IS YOUR BUSINESS IMPACTED? (7/5)

Written on the 8 June 2010

TAX REFORM ANALYSIS: IS YOUR BUSINESS IMPACTED? (7/5)

THE Rudd Government’s response to the pre-Budget recommendations put forward by Dr Ken Henry and his panel of finance big guns generated controversy on three key issues - company tax, superannuation and a resources super profit tax. The talk has been on big corporations, foreign investment and the miners, but a question looms over the outcomes for ground level SME, the engine room of our economy.

With eligible businesses enjoying a reduction in company tax and a $5000 depreciation allowance, the immediate impacts of the Henry tax review seems generally positive for Gold Coast SME’s.

Previously announced reductions to personal income tax thresholds continue to apply while from July 2011, tax payers will receive a 50 per cent reduction on the first $1000 of ‘interest’ income earned.

To read GCBN's full tax reform analysis, featuring commentary from the Coast's top financial planners, purchase your copy of Gold Coast Business News June edition - available now in more than 450 Gold Coast newsagencies.


Latest News

GUVERA ESCAPES WIND-UP ORDER

GUVERA has avoided being wound up after a claim for a $1.78 million debt by Kwong Properties was dismissed at the ...

CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMER confidence remains at its weakest point since April 2016, according to the latest Westpac Melbourne Institut...

WESFARMERS' COAL BUSINESS ON FIRE

WESFARMERS (ASX: WES) has lifted its first-half profit guidance due to surging coal prices and higher than expected c...

SIXTH CONSECUTIVE RECORD PROFIT FOR AP EAGERS

AP EAGERS (ASX: APE) will beat guidance with its sixth-consecutive record profit when it reports its full year result...

Related News

CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMER confidence remains at its weakest point since April 2016, according to the latest Westpac Melbourne Institut...

RISE OF STARTUP SUPPORT PROGRAMS NOT AS ROSY AT IT SEEMS

ENTREPRENEURIAL cultivation companies in Australia are appearing quickly, but questions have been raised about whe...

SMES TAKE RETAIL MARKET SHARE AS CONSUMERS CHOOSE PERSONALISATION

IN a battle for the hearts and wallets of Australian consumers, it appears that small and medium retail businesses...

KNOWLEDGE WORKERS AMONG MOST SOUGHT AFTER IN 2017

BUSINESSES searching for efficiencies and improved systems are in search of knowledge workers early this year, say...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter